European Supervisory Authorities hold its 2018 Consumer Protection Day

On 22nd June 2018, the Joint Committee of the European Supervisory Authorities (ESAs) held its sixth annual Consumer Protection Day. The event brought together 250 consumer representatives, finance industry representatives and regulators to address major challenges facing consumer protection in financial services across the European Union.

Steven Maijoor, Chair of the European Securities and Markets Authority and the current Chair of the Joint Committee, said:

“The ultimate goal of the ESAs’ activities, both individually and through the Joint Committee, is ensuring a consistent level of consumer and investors protection across the European Union. Today’s agenda reflects the main activities of the ESA’s current work for achieving better outcomes for consumers and also captures new developments that require special attention from a regulatory and supervisory side.”

Mario Centeno, President of the Eurogroup, delivered a keynote speech, followed by three panel discussions that focused on:

• net performance of retail products and information to consumers on costs and past performance
• the regulatory and supervisory approach to Virtual Currencies, as part of the bigger digitalisation agenda; and
• concerns about whether self-placement can go hand-in-hand with the fundamental principle of investing in the best interest of customers.

More information about the Consumer Protection Day is available here.